Denmark Business Confidence

Denmark: Businesses remain pessimistic in August

August 28, 2014

In August, the business confidence indicator developed by Statistics Denmark (DST) rose from July’s minus 13 points to minus 6 points, which marked the highest level in three months. The indicator, however, remains well below the 0-point threshold, which indicates that pessimists outnumber optimists.

According to DST, August’s reading came on the back of an improvement in production expectations, while overall backlog as well as stocks of finished goods declined over the previous month.

FocusEconomics Consensus Forecast panelists expect gross fixed investment growth to reach 2.5% in 2014, which is unchanged from last month’s forecast. For 2015, panelists forecast an expansion of 3.3%.

According to the latest national accounts data released on 30 November by Statistics Denmark, the economy gained traction in the third quarter, after registering weak growth in the first two quarters of the year.

According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector ticked up to minus 1 point in November from minus 2 points in October, remaining below the zero-point threshold that separates optimism from pessimism in the sector.
The slight improvement in industrial business sentiment was driven by firms’ greater confidence in the production outlook.

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